• Finance

    Global Finance Watchdog Censures Turkey Over Money Laundering, Terrorist Financing

    WASHINGTON—A global watchdog on Thursday added Turkey to its list of countries requiring special regulatory oversight for failing to stop money laundering and terrorist financing, a designation analysts say will rattle Ankara’s already shaky economy. The action means Turkey joins a group of 23 countries—including Zimbabwe, Haiti and Syria—that the Financial Action Task Force determined “have strategic deficiencies in their regimes to counter money laundering, terrorist financing, and proliferation financing.” The designation by FATF, an intergovernmental body that audits the ability of nations to detect and disrupt illicit finance, is a political blow to longtime Turkish President Recep Tayyip Erdogan, 

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  • Business & Finance

    Circular business model opportunity and risk for finance leaders

    As countries prepare to meet at COP26 in Glasgow in November to agree further steps to address climate change, one idea that could help solve the crisis — the “circular economy” model — is being adopted by companies as diverse as vehicle manufacturer Renault and furniture retailer IKEA. A thought leader in this space is the UK-based Ellen MacArthur Foundation. It said: “Relying solely on energy efficiency and switching to renewable energy will only address 55% of global greenhouse gas emissions.” What can contribute to cutting the remaining 45%, the foundation suggested, is adopting the circular economy’s three design-driven principles:  

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  • Finance

    Finance startup Embed raises $80 million, readies for launch in Vancouver’s Uptown Village

    Giles said he’d like to one day make the company publicly owned, joining the ranks of ZoomInfo, AbSci, nLIGHT, Northwest Pipe Co., Nautilus Inc. and other companies in Vancouver’s growing business scene. “I think the dream for every entrepreneur is to one day IPO your company on a stock exchange,” he said. “If we execute successfully, I see no reason why Embed could not be a publicly traded company in the future. Having said that, so long as there is capital available in the private markets, it’s safe to assume Embed will remain private for as long as it makes  

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  • Business & Finance

    Harry and Meghan Get into Finance

    Exclusive: Harry and Meghan want to make sustainable investing mainstream Prince Harry and Meghan, the Duchess of Sussex, are getting into the investment business. They are joining Ethic, a fintech asset manager in the fast-growing environmental, social and governance space, as “impact partners” and investors. Ethic has $1.3 billion under management and creates separately managed accounts to invest in social responsibility themes. The couple could attract more attention to sustainable investing. Harry and Meghan can make E.S.G. investing part of pop culture in a way that, say, BlackRock’s Larry Fink can’t. “From the world I come from, you don’t talk  

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  • Finance

    This is how to finance digital inclusion

    Estimates show that cutting the digital divide by half and ensuring that the internet is accessible to a majority within the next five years will require $2.1 trillion investment. Sustainable and social financing can advance digital inclusion and the achievement of the SDGs. Almost two years into the pandemic, the world continues to rely heavily on technology for everyday life activities – and it does not seem that this will change any time soon. It is estimated that global internet traffic in 2022 will exceed all the internet traffic up to 2016. And while COVID-19 has accelerated a global transition  

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